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Audit Services in Singapore

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Audit Services in Singapore

Audit services provided by a certified public accountant (CPA) like Paul Hype Page & Co, benefits all Singaporean companies. Paul Hype Page is a full practicing member of ICPAS, providing audit services and able to issue IRAS approved audit report from $4,500 onward.

Our audit professionals provide a range of independent audit services based on a strong knowledge of accounting principles. These are complemented by an appropriate knowledge of business systems, processes, and controls.

Our audit services:

  • Annual Financial Audit
  • Special Purpose Audit/Certification for Subsidy Claim Audit
  • Engagement to Perform Agreed-upon Procedures (SSRS 4400) Government Agencies Grant Claim
Audit Services

An auditing service adds credibility to the information provided to shareholders. It assures investors and other providers of finance who can make their decisions in a safe environment, with confidence. Safety and confidence reduce the cost of capital and make companies competitive and profitable.

Annual Financial Audit

Our Annual Financial Audit approach is based on an understanding of our clients’ business processes, goals, and strategies. This enables us to identify and assess the risks that impact their business and achievement of goals

We understand how important it is for you to maintain business as usual during the audit process, with minimal disruption to your day-to-day operations. We will also work with you to identify weaknesses and assist with suggested rectification procedures.

Statutory audit not only requires the review of financial information and application of the regulation, but they also need to be supported; support for the accountants completing the compliance, the trustee, and the members. Our team of specialists can be relied on to not only identify issues but to also aid and guidance on rectification and compliance.

Annual Financial Audit

Advantages of Auditing

A true and fair financial statement may be able to satisfy the followings:

  • Satisfy stakeholders such as employees, customers, suppliers, and pressure group, as well as the investing community, as to the credibility of published information
  • Facilitate the payment of corporate tax, good and services tax, and other taxes on time and accurately, thereby avoiding interest, penalties, and investigations
  • Enable the company to comply with banking covenants
  • Help to deter and detect material fraud and error.
  • Facilitate the purchase and sale of businesses
  • Take advantage of the spin-off benefits such as advice on the structure and operations of systems
  • Demonstrate good corporate governance and citizenship

For further inquiries or a non-obligatory quote, please send us an email inquiry.

Advantage of Auditing

Visual Content

The solutions we offer for companies and their owners cover important areas such as incorporation, taxation, auditing, and work visas, among others.

Informative Content

We are always ready and willing to work with any genuine and legitimate company which requires our incorporation services or any other services we provide.

Packages

We offer company incorporation, consultancy services, auditing, taxation, immigration & compliance services.

Special Purpose Audit/Certification for Subsidy Claim Audit

As part of MCYS audit requirements, Childcare centers are required to engage certified public accountants to audit the center’s infant/childcare subsidy claims annually or upon cessation of business.

We do the provision of auditing service on childcare center’s infant/childcare subsidy claims and the scope of our Infant/child Care Subsidy Claims Audit Service includes preparation of the following which must be submitted to the Ministry 3 months after the center’s financial year-end or cessation of business:

Preparation of the Statement of Subsidy Claims for the Financial Year

Preparation of Certification by External Auditors Fund Raising Appeal by Societies This is one of the Special Purposes Audit accordance with the provision of Regulation 6 of the Societies Regulations issued under the Societies Act Chapter 311, Section 34 (the “Regulations”) relating to the fund-raising appeal held by the Society which comprises the balance sheet and statement of income and expenditure for the period from (date) to (date).

Reference of Client list is available upon request.

Claim Summary of Project Qualifying Costs (IDA, EDB, JTC, etc.)

This is one of the Special Purposes Audit report on the Claim under a particular Approved Project and under a particular Scheme administered by IDA based on the terms and conditions provided in the Letter of Offer between the company and the IDA. The claims are for Approved Grant Amounts set the maximum amounts approved by IDA as set out in Qualifying Costs Table.

It is a hundred percent (100%) full audit and the Independent Auditors’ Report shall follow AGS 1, template 2D.

Reference of Client list is available upon request.

Licensee’s or Tenant’s Annual Gross Turnover

This is one of the Special Purposes Audit under tenancy agreement between the landlord and tenants in most of the mega shopping center and certain government agencies such as IDA, Changi Airport Authority required the licensee to audit the Annual Gross Turnover Report or for all licensable activities for the period from (date) to (date)

Reference of Client list is available upon request.

House to House and Street Collections (HHSC)

License Audit Under the House to House and Street Collections Act, an HHSC license is required if one promotes a collection by way of appealing to the public, made using visits from house to house or of soliciting in streets or other places or by both such means, for money and other property.

After the collection event, the collection account needs to be certified by the chief promoter of the collection and by a public accountant who is appointed by the organization of the chief promoter to be the auditor of the account. The audited statement of account then must be submitted to the Commissioner of Police within two months of the expiry of the license.

(Source: Police Licensing Computerized System)

HHSC license audit is another one of Tan, Chan & Partners’ specialized auditing service and we have extensive experience in the provision of this service.

 

Other Certifications

We certify the following financial information, statement, and statistics through our certification audit:

  • Fixed Assets Certification
  • Claim
  • Shares Certification
  • Personal Income Certification

For further inquiries or a non-obligatory quote, please send us an email inquiry.

Engagement to Perform Agreed-upon Procedures (SSRS 4400) Government Agencies Grant Claim

The following Engagements to perform Agreed-upon Procedures Regarding financial information is referred to SSRS 4400. Auditor’s Reports are on Factual Findings based on terms of reference outlined by the Government Agencies. The audit coverage shall cover at least 85% of the value claimed in the statement. Administered government agencies for grants include EDB, STPB, MAS, MCYS, MICA, IDA, etc

Certification Audit for Confirmation of JTC Leases It is part of SSRS 4400 to certify the investment quantum on Plant & Machinery and Building & Civil Works incurred by the licensee has complied with the lessor’s lease terms with JTC Corporation.

Submission of the Value-added productivity (VAP) figures to the BCA Under this requirement, all larger companies, from A1-B2 registered under Construction Workheads (CW) of BCA Contractors Registry must submit their VAP figures on an annual basis. Procedures in connection with the computation of the VAP figure is defined by the BCA.

For further inquiries or a non-obligatory quote, please send us an email inquiry.

Audit Services in Singapore FAQs

How often the Profit and Loss Account as well as the balance sheet of a company need to be audited?2020-11-25T09:51:53+08:00

The Profit and Loss Account as well as the balance sheet need to be audited annually. 

When do I need to appoint an auditor for my company?2020-11-25T09:52:10+08:00

You should nominate at least one auditor within 3 months after your company is incorporated. 

How long is the auditing process?2020-11-25T09:52:22+08:00

It depends on the capacity and complexity of your business. 

Is my company exempted from the audit?2020-11-25T09:52:43+08:00

If your company is small, as long as it meets 2 out of 3 criteria as below, it is exempted from the audit:

  1. total annual revenue is less than or equal to S$ 10mil;
  2. total assets less than or equal to S$ 10mil;
  3. have less than or 50 employees
2021-01-21T11:52:02+08:00December 8th, 2014|0 Comments

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